Indiana › Construction › 500 to 999 participants
Form 5500 statement · plan year 1 Jun 2024 to 31 May 2025
International Brotherhood of Electrical Workers Local Union 305 Pension Plan
Sponsored by IBEW Local Union 305 Pension Plan Board of Trustees, Fort Wayne, IN
Form 5500 information is as filed by the plan administrator with the Department of Labor and may be amended. Figures reflect the plan year shown, not current balances. Form 5500 contains no individual account balances. Look up the original filing at EFAST2.
International Brotherhood of Electrical Workers Local Union 305 Pension Plan is a 401(k) plan sponsored by IBEW Local Union 305 Pension Plan Board of Trustees of Fort Wayne, Indiana. For the plan year ending 31 May 2025 it reported 967 participants, 861 of them active, and net assets of $99.0M. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $102,368 per participant, well above the $46,267 median for defined contribution plans with 500 to 999 participants and well above the $54,962 median for defined contribution plans in construction. The figure is an average across everyone in the plan, including former employees with small balances; Form 5500 holds no individual account data.
The employer contributed $6.2M during the year, or $7,159 per active participant against a same-size median of $1,934; participants contributed —. Benefits paid out totalled $4.9M.
Schedule C lists 6 service provider organisations paid $5,000 or more, with reported compensation of $223K: $231 per participant, well above the same-size median of $113. Administrative expenses charged to the plan were $215K. Schedule C does not capture every cost: fees netted from fund returns and fees the employer pays directly are outside it.
Across the filings on record, net assets went from $25.6M in 2009 to $99.0M in 2024 (up 286%), and participants from 578 to 967 (up 67%).
The independent accountant's opinion on the financial statements was unmodified (unqualified), from an audit whose scope was limited under ERISA section 103(a)(3)(C) to exclude investment information certified by a bank or insurer.
Compared with similar plans
| Measure | This plan | Same size | Same industry | All US DC plans |
|---|---|---|---|---|
| Net assets per participant | $102,368 | $46,267 | $54,962 | $53,102 |
| Employer contributions per active participant | $7,159 | $1,934 | $2,728 | $2,175 |
| Schedule C compensation per participant | $231 | $113 | $162 | $123 |
| Schedule C compensation, share of net assets | 0.23% | 0.25% | 0.33% | 0.26% |
| Administrative expenses per participant | $222 | $109 | $166 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 500 to 999 participants (10,588 plans), construction (4,204) and all US plans (63,460). Fee medians cover plans that report an amount.
Trend by plan year
| Plan year | Participants | Net assets | Per participant | Employer contributions | Participant contributions | Schedule C compensation |
|---|---|---|---|---|---|---|
| 2024 | 967 | $99.0M | $102,368 | $6.2M | — | $223K |
| 2023 | 855 | $89.7M | $104,895 | $4.3M | — | $243K |
| 2022 | 843 | $76.3M | $90,562 | $3.2M | — | $171K |
| 2021 | 818 | $78.8M | $96,281 | $3.2M | — | $200K |
| 2020 | 789 | $83.5M | $105,790 | $2.4M | — | $175K |
| 2019 | 762 | $63.7M | $83,552 | $2.6M | — | $182K |
| 2018 | 741 | $60.3M | $81,435 | $2.3M | — | $147K |
| 2017 | 726 | $58.5M | $80,606 | $2.4M | — | $146K |
| 2016 | 602 | $53.4M | $88,646 | $2.2M | — | $139K |
| 2015 | 648 | $46.2M | $71,228 | $1.7M | — | $148K |
| 2014 | 712 | $46.5M | $65,270 | $1.8M | — | $129K |
| 2013 | 696 | $43.4M | $62,386 | $1.8M | — | $70K |
| 2012 | 610 | $37.3M | $61,121 | $1.7M | — | $62K |
| 2011 | 599 | $30.5M | $50,982 | $1.5M | — | $29K |
| 2010 | 578 | $30.9M | $53,524 | $1.6M | — | $46K |
| 2009 | 578 | $25.6M | $44,341 | $1.2M | — | $49K |
Years in which the plan filed the full Form 5500 with 100 or more participants, from 2009. Plan year is the year in which the plan year began.
Statement for the year
- Net assets, beginning of year$89,684,532
- Employer contributions$6,163,807
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$6,163,807
- Total income, including investment results$14,400,885
- Benefits paid$4,881,223
- Administrative expenses$214,570
- Total expenses$5,095,793
- Net income$9,305,092
- Net transfers$0
- Net assets, end of year$98,989,624
Participants
- Active participants861
- Retired or separated, receiving benefits71
- Retired or separated, entitled to future benefits35
- Participants with account balances967
- Total participants, end of year967
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Empower Annuity Insurance Co. of Am | Recordkeeping fees | $91,643 | $0 |
| Empower Advisory Group, LLC | Investment management | $40,899 | $0 |
| Allotta, Farley Co., L.P.A. | Legal | $30,334 | $0 |
| Clark, Schaefer, Hackett & Co. | Accounting (including auditing) | $23,200 | $0 |
| OneDigital Investment Adivisors LLC | Investment advisory (plan) | $18,763 | $0 |
| Segal Select Insurance Inc. | Other fees | $18,431 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. Individuals named on Schedule C (plan employees, individual trustees) are never shown and their compensation is excluded. Eligible indirect compensation disclosed by formula carries no dollar amount. See how to read Schedule C fees.
Administrative expenses on Schedule H
- Recordkeeping fees$91,643
- Investment advisory and management fees$37,523
- Legal fees$34,514
- IQPA audit fees$24,250
- Other administrative expenses$21,240
- Contract administrator fees$5,400
- Total administrative expenses$214,570
Investment structure
Assets at year end by Schedule H category. The form shows the kind of vehicle holding the money, not the funds on the menu.
- Registered investment companies (mutual funds)$96.2M · 97.1%
- Cash (interest and non-interest bearing)$2.1M · 2.1%
- Receivables$704K · 0.7%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmClark, Schaefer, Hackett & Co.
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $1,000,000
- Blackout period during the yearNo
These are the plan administrator's own answers on Schedule H, Part IV. A reported late transmittal is the filer's disclosure of a timing lapse, usually corrected through the Department of Labor's voluntary program; the amount is the total involved, not a loss.
Plan characteristics
2EProfit-sharing plan2GTotal participant-directed account plan2JCode section 401(k) feature
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 238210: Electrical Contractors.
Similar plans in Indiana
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Plumbers and Steamfitters Local 166 Profit Sharing Annuity Plan | Plumbers and Steamfitters Local 166 | 1,066 | $61.6M | $57,791 |
| Gene B. Glick Company, Inc. Retirement Plan | Gene B. Glick Company, Inc. | 929 | $61.0M | $65,673 |
| I.B.E.W Local 697 Defined Contribution Plan | Trustees of I.B.E.W Local 697 Defined Contribution Plan | 1,113 | $499M | $448,457 |
| IBEW Local 531 & Neca Money Purchase Pension Plan | Trustees of IBEW Local 531 & Neca Money Purchase Pension Plan | 908 | $137M | $150,510 |
| Operating Engineers Local 112 Defined Contribution Pension Plan | Board of Trustees Operating Engineers 112 Defined Contribution Pension | 1,131 | $60.2M | $53,267 |
| R. T. Moore Co. Inc. 401(k) Profit Sharing Plan | R.T. Moore Co. Inc. | 878 | $22.4M | $25,499 |
Defined contribution plans in construction closest in size.
Questions and answers
How big is International Brotherhood of Electrical Workers Local Union 305 Pension Plan?
967 participants at the end of the plan year ending 31 May 2025, of whom 861 were active employees, with net assets of $98,989,624. Among defined contribution plans that places it in the 500 to 999 participants band, which held 10,588 plans in plan year 2024.
What does IBEW Local Union 305 Pension Plan Board of Trustees contribute per participant?
The filing reports $6,163,807 in employer contributions for the year, which is $7,159 per active participant; the median for plans of the same type and size was $1,934 in plan year 2024. Form 5500 reports the total only. It does not state the match formula, and the per-participant figure is an average, not any one person's contribution.
What fees does the plan pay and how do they compare?
Schedule C reports $223,270 in compensation to service provider organisations, $231 per participant or 0.23% of net assets. The same-size median among plans reporting any Schedule C compensation was $113 per participant. Administrative expenses on Schedule H were $214,570. Investment costs deducted inside mutual funds and other pooled vehicles are not itemised on Form 5500, so these figures are a floor rather than a full cost.
Who runs the plan?
The sponsor is IBEW Local Union 305 Pension Plan Board of Trustees. Recordkeeping or administration: Empower Annuity Insurance Co. of Am. Investment advisory or management: Empower Advisory Group, LLC and OneDigital Investment Adivisors LLC. The financial statements were audited by Clark, Schaefer, Hackett & Co.. Form 5500 also names the plan administrator's signer and other individuals; this site publishes organisations only.
Was the audit opinion unqualified?
The filing reports an unmodified (unqualified) opinion from a limited-scope audit, in which the accountant did not audit investment information certified by a bank or insurance company. Unmodified (formerly "unqualified") is the standard clean opinion.
How current is this, and does it show my balance?
This is the Form 5500 for the plan year 1 Jun 2024 to 31 May 2025, received by the Department of Labor on 5 Mar 2026. Filings are due seven months after the plan year ends, or nine and a half with an extension, so the public record always runs a year or more behind. It contains plan-level totals only: no individual balances, contributions or names of participants exist in the data.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files (Form 5500, Schedule H, Schedule C) for plan years 2009 to 2025, public domain, with filings received through 24 Aug 2026. This page shows the latest filing on record for EIN 35-0415460, plan 001, received 5 Mar 2026; an amended filing replaces it at the next build. Medians and percentiles are computed by this site; see the methodology. Report an error through corrections.